McCormick has taken over 100% shares of flavours producer Brand Aromatics for around $63m, a move that will expand the company's product portfolio.
Headquartered in New Jersey, Brand Aromatics supplies natural savoury flavours, marinades, and broth and stock concentrates to the packaged food industry.
It currently employs 40 people and owns R&D facility, USDA manufacturing facility and distribution centre in Lakewood, New Jersey.
Brand Aromatics generated around $28m in annual sales in 2014 and expects its annual sales to grow at a mid-single digit rate.
McCormick chairman and CEO Alan Wilson said: "Brand Aromatics is a great addition to McCormick's industrial business. We are currently a leading supplier to packaged food companies and leading restaurants, and this acquisition extends the value-added flavor solutions we provide to stocks, marinades and other savory products.
"We look forward to working with the employees of Brand Aromatics to build sales and further strengthen our customer intimacy."
McCormick manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry such as retail outlets, food manufacturers and foodservice businesses.
Image: Brand Aromatics supplies natural savory flavors, marinades, and broth and stock concentrates to the packaged food industry. Photo: courtesy of tiramisustudio / freedigitalphotos.
